The rest is supplied by rising consumption.
That explains the rosy outlook of shoppers and rising consumption.
Our recovery to date has been focussed on rising consumption underpinned by rising household borrowing.
WHILE bacon consumption in restaurants is rising, consumption in American homes is still dropping.
Supply growth has begun to outstrip rising consumption for some commodities (see chart 2).
In part, the country's garbage crisis is a tale of rising consumption.
There is also rising consumption around the world "as the global economy starts to come out of recession".
But before we point the finger at emerging economies for their rising consumption, let's keep things in perspective.
As countries get richer they tend to look for alternatives China is scrambling to curb its rising consumption.
And overall, with unemployment rising, consumption is set to fall.So Wall Street's number-crunchers are busy revising down their predictions.
What it misses is rising consumption by the very rich, who downplay their extravagance when the survey people come calling.
